Hi,My wife and I moved into our current place about a year ago, and converted our prior primary residence into a long-term rental.

I fly back to take a tour of his market meet his wife as well on my dime..

Over about 2 years my wife and I did most of the handy work ourselves.

My wife and I recently purchased a home where we are planning on converting the basement into a rentable space.

Refinanced in 2017 roughly to drop PMI, lower interest rate and add my then wife to the mortgage.Selling for 287k in August of 2024I know that I won't have to pay capital gains tax on the profits- my question is the profit from the sale still treated like income and taxed accordingly?

Purchase price: $250,000 Cash invested: $5,000 This was a property my wife and I purchased to live in while fixing it up with the idea of renting it out.

My wife and I used this on our primary that we later turned into an investment property.

My wife is in the same situation with her father's estate and it has been difficult to find someone. 

My wife and I's goal is to own a "bullet proof" portfolio in our hometown on the DFW outskirt.

If you have any concerns that payment won't be 100% collected prior, then go with 100% at time of booking.The beauty of having a smart lock where you can disable a code remotely!